Election of Manager Sample Clauses
The 'Election of Manager' clause establishes the process by which a manager is chosen to oversee the operations or affairs of an entity, such as a company or partnership. Typically, this clause outlines who is eligible to vote, the required voting threshold, and the frequency or timing of elections; for example, it may specify that members elect a manager annually by majority vote. Its core practical function is to ensure a clear, agreed-upon method for appointing leadership, thereby preventing disputes and promoting effective governance.
Election of Manager. Initially, there shall not be a “manager” (within the meaning of the Act) of the Company. Subject to the applicable provisions of the Gaming Laws and the Act, the Member in its sole discretion may, from time to time, appoint one or more Persons as managers with such duties, authorities, responsibilities and titles as the Member may deem appropriate. Such a manager shall serve until such manager’s successor is duly appointed by the Member or until such manager’s earlier removal or resignation. Any manager appointed by the Member may be removed at any time by the Member. If any Person elected to serve as a manager is found to be an Unsuitable Person, the Member shall immediately remove such Person as a manager and such Person shall thereupon automatically cease to be a manager.
Election of Manager. There shall not be a “manager” (within the meaning of the Act) of the Company unless the Articles and this Agreement are amended to so provide.
Election of Manager. Initially, there shall not be a "manager" (within the meaning of the Act) of the Company. Subject to the applicable provisions of the Act, the Member in its sole discretion may, from time to time, appoint one or more Persons as managers with such duties, authorities, responsibilities and titles as the Member may deem appropriate. Such a manager shall serve until such manager's successor is duly appointed by the Member or until such manager's earlier removal or resignation. Any manager appointed by the Member may be removed at any time by the Member.
Election of Manager. (a) The initial Manager specified in Exhibit "A" hereto will serve as the Company's Manager until resignation or removal.
(b) The Manager may be elected at a special meeting called for the purpose of electing Manager. Manager may also be designated by the unanimous written consent of the Members.
(c) The term of service for the Manager is perpetual unless removed by the affirmative vote of all of the Members.
Election of Manager. The Company shall initially have one (1) Manager, as specified in Article I above. If the Manager is the subject of an Incapacity or if the Manager resigns, then one or more replacement managers may be appointed by the affirmative vote or written consent of a Majority Interest of the Members. The Members shall not have the power or authority to remove the Manager. If the number of Managers is changed, the Articles shall be amended, if necessary, to accurately reflect whether the Company has only one Manager or more than one Manager. A Manager need not be a Member, an individual, a resident of the State of Delaware or a citizen of the United States.
Election of Manager. Following the Effective Time, the Manager shall be elected annually by the Members in accordance with this Section 6.6, and the Manager so elected shall serve as the Manager until a successor has been duly elected as the Manager in accordance with this Section 6.6. Not more than one year after the later of (a) the Effective Time and (b) the last meeting of the Members or action by written consent of the Members at which or pursuant to which the Manager was elected in accordance with this Section 6.6, the Manager at such time (or the Members if the Manager shall fail to take such action) shall either (i) call and hold a meeting of the Members for purposes of electing the Manager or (ii) seek written consents from the requisite Members to elect the Manager pursuant to Section 7.2(d). A Person shall be elected as the Manager if the election of such Manager is approved by Members holding a majority of the outstanding Units by vote at a meeting held for such purpose or by action by written consent; provided, however, that if the Person so elected as the Manager was not the Manager immediately prior to such election, such election shall not be effective, and such Person shall not become the Manager, unless and until such Person has executed and delivered to the Company the written agreement of such Person to be bound by the terms of this Agreement applicable to the Manager, in form and substance reasonably satisfactory to the Manager serving immediately prior to such election or to the Members holding a majority of the outstanding Units.
Election of Manager. Effective concurrently with the contribution of cash made by PubCo to the Company in connection with the Closing, PubCo shall be appointed as the Initial Manager. Following the closing of the transactions contemplated by the Business Combination Agreement (the “Closing”), the Manager shall be elected annually by the Members in accordance with this Section 7.02, and the Manager so elected shall serve as the Manager until a successor has been duly elected as the Manager in accordance with this Section 7.02. Not more than one year after the later of (a) the Closing and (b) the last meeting of the Members or action by written consent of the Members at which or pursuant to which the Manager was elected in accordance with this Section 7.02, the Manager at such time (or the Members if the Manager shall fail to take such action) shall either (i) call and hold a meeting of the Members for purposes of electing the Manager or (ii) seek written consents from the requisite Members to elect the Manager. A Person shall be elected as the Manager if the election of such Manager is approved by Members holding a majority of the outstanding Units by vote at a meeting held for such purpose or by action by written consent; provided, however, that if the Person so elected as the Manager was not the Manager immediately prior to such election, such election shall not be effective, and such Person shall not become the Manager, unless and until such Person has executed and delivered to the Company the written agreement of such Person to be bound by the terms of this Agreement applicable to the Manager, in form and substance reasonably satisfactory to the Manager serving immediately prior to such election or to the Members holding a majority of the outstanding Units.
Election of Manager. The Manager shall be elected annually by the Members. Nominees for election as Manager receiving the highest number of votes shall be elected as Manager. The Members shall not have the right to cumulate their votes in the election of Manager. In the event an election is not timely held, the Manager shall remain in office until an election is held.
Election of Manager. By executing and delivering this Agreement, PubCo, as the direct or indirect holder of all of the outstanding Class B Common Units following the transactions described in Section 3.02, hereby elects PubCo as the initial Manager. Any successor Manager shall be elected by the Class B Members in accordance with this Section 7.02, and the Manager so elected shall serve as the Manager until a successor has been duly elected as the Manager in accordance with this Section 7.02. A Person shall be elected as the Manager by Class B Members holding a majority of the outstanding Class B Common Units by vote at a meeting held for such purpose or by action by written consent; provided, however, that if the Person so elected as the Manager was not the Manager immediately prior to such election, such election shall not be effective, and such Person shall not become the Manager, unless and until such Person has executed and delivered to the Company the written agreement of such Person to be bound by the terms of this Agreement applicable to the Manager, in form and substance reasonably satisfactory to the Manager serving immediately prior to such election or to the Members holding a majority of the outstanding Class A Units.
Election of Manager. (a) The Members hereby elect ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ as the Manager ofthe Company, and he, along with any other persons appointed by him, shall conduct all business and affairs ofthe Company.
(b) The Members shall elect one or more Persons as Managers ofthe Company to serve until their respective successors are duly elected and qualified. In addition, if any Person resigns or otherwise vacates the office of Manager, the Members shall elect a replacement Manager to serve the remaining term of such office, unless one or more other Persons then serve as Managers and the Members determine not to fill such vacancy. A Person may be removed as a Manager by the Members with or without cause at any time. A Manager may, but shall not be required to, be elected from among the Members. A Manager may be a natural person or an Entity.